Global Recession Ending: OECD

(Reuters – Brian Love)

The global recession is coming to an end faster than thought a few months ago and may already be over, but recovery will rely on massive government spending and low interest rates for some time, the OECD said on Thursday.

The Organization for Economic Co-operation and Development issued forecasts showing a broad return to economic expansion in the third quarter of 2009. It also said that while authorities needed to map out a strategy for withdrawal of fiscal and monetary stimulus once recovery was surer, now was no time to economies off life support.

Read the complete article here. Click here for the OECD document and the press conference.